My complaint is about the Predatory Lending Practices and Consumer Protection Laws Violated by WFS Financial Services, AKA: Western Financial Bank, Westlake Financial Inc., as well as Westcorp Financial.
First lets identify the real thief in this matter which is western financial savings bank which was shut down some years back in the lae 80' possibly early 90's for law violations, however although fdic shut them down the bank maintained its corporate status and continued to do business.
Then it started westlake financial services and subsequently wfs financial service.
Further they continued with the very same illegal practices that shut them down as a bank, but now as a financial services provider.By doing so fdic cannot regulate them.
Make no mistake about this company the things they do are continuous, intentional and illegal.
They hide behind the cloak of their corporate status and Nasdaq seat and the gray areas of regulatory law with regards to financial institutions.
WFS FINANCIAL SERVICES
23 Pasture
Irvine, California 92618
Western financial Bank DBA: Western Financial Services, AKA: WFS Financial, AKA: Westlake Financial.
California Corp. # C0834084
Please note the following:
I contacted the Department of Insurance State of California and they agreed that insurance policies have been added to my account. However, they were in no position to go further in spite of the fact that during the investigation the company not knowing at the time that they were being investigated Added yet a forth policy to my account thus bringing the entire amount of insurance added in less than a year to $4,800.00.
The purpose and intent is to keep me owing this money beyond the actual contract amount.
Because of WFS AKA Western Financial Savings Bank, AKA; Western Financial Bank, AKA: Westlake Financial services, AKA: WFS Financial services operate in the same manner. This is very serious and this company is growing bigger and bigger by victimizing people.
With the money they are getting they are now buying politicians, and a sort of sovereignty from prosecution. The regulatory agencies in charge of stopping this do not want to get involved, as a result.
Issues: WFS has with me like so many others have done the following: Flagrantly, Illegally and Fraudulently Added charges or fees to my account for the past year well in excess of $4,300.00 by adding bogus late charges and insurance to my account. Additionally, Illegal Predatory Lending Practices and treatment which Constitutes Consumer Practices Act violations, and possible Rico Violations as well. To date they have increase the amount I owe them by and addtional $6,000.00 and I have not missed one payment to them.
Bought a car
Financed by WFS a predatory lender
WFS has violated the consumer protection act
WFS refused to change the actual payment date of my loan after I have requested
a formal change numerous times. Purpose is so they can assess late charges on me.
WFS have also illegally added insurance to my account for coverage on my vehicle when they
knew that my vehicle is covered, as well as bogus late charge associated with all of this close to
$1,100.00.
Placed WFS on notice Formally in writing by me as required by law not to contact my mother (heart patient). WFS ignored it completely, called my work and home daily.
WFS have run illegal credit checks on me, and my mother. WFS has tract down friends of my mother's and clients of mine that I have done work for and contacted them asking about me.
WFS employee openly admitted to running credit checks on me without my authorization
This employee also threatened to repossess the car although he admitted I was not behind on the note WFS was taking my money every month and using it for the insurance was added to my account.
WFS has harassed my mother almost daily, further they have sent people to my home. I provided them with ample information to contact me. Told them not to call me at work though. They did so incessantly any way.
WFS employees have approached my mother numerous times, as well as sent people to my home who have simply sat out in front of my house and stake it out.
WFS sent a team of men with a tow truck to my sister's house at 3:00 am in the morning to repossess my vehicle and harassed her neighbors as well.
I contacted WFS headquarters in Texas and when one to the employees saw the wrong being done and tried to help she was told to back off and I could only speak with the WFS Irvine office.
WFS has added insurance to my account for a fourth time. October WFS claimed I owed $7,100.00 after and entire year of payments averaging $350.00 to $450.00 per month, NOW September WFS says I owe them $6,900.00. According to WFS numbers the loan paydown is $200.00 after making $4,600.00 in payments for the past year. The required monthly payment according to the contract is $308.00 month. I have always overpaid the monthly note and have never missed a payment.
WFS has kept the balance of the loan at exactly $7000.000 for more than one year by adding insurance to my account balance using the forced insurance clause.in spite of the fact that they knew the car was fully covered.
I kept that car always covered. Every month I made to trip to personally deliver the payment to WFS and to my insurance carrier then I would have the insurance provider CALL WFS in my presence and tell them the policy on the vehicle was in force and still valid. WFS would still add insurance cleaning they have no record or knowledge of my vehicles insurance. The added insurance to my account a total of four times in a year's time.insurance policies have duration of one year. This is how stupid this entire situation is. They have added 4 years of insurance to a one period of time.
To date I have filed complaints with and recommend all of you having the same problem do like wise. Fjurther I am trying to mobilize a class action Law Suit If You Are INTERESTED In Joining In Please Do The Following. Contact me: through the rebuttal key and through the editor of this site. There needs to be at least 5-10 people. I will contact you back with particulars.
Thus far I have file complaints with the following
regulatory agencies:
California Department of Insurance
Department of Justice (California)
Department of Justice (Federal Level)
OTS - (Office of Thrift Supervision
The Federal reserve Board
FDIC-Federal Deposits Insurance Corp.
Los Angeles Department of Consumer affairs
FTC - (Federal Trade Commission)
And many more.
WFS has as of this moment stopped all of the call and harassment however ion an effort to distance themselves from the what they have and were doing they have simply turned my account over to a collection agency. They were caught as I mentioned previously the 4th time they attempted to add insurance to my account, WFS sis not know they were being investigated and as such tried to add insurance to my account while the CDI (California Department of Insurance) was watching them. They were actually scene committing the crime. They took off the insurance immediately. Balboa Casualty sent me several letters trying to dis-avow any wrong doing in the matter however it is obvious that WFS bought into Balboa for control and ease of adding insurance illegally to people accounts.
10 people is what is required Class Action Law Suit Against WFS.
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